On Friday, the Court of Appeal of Brussels held that all Fortis shareholders are entitled to vote at the Fortis shareholders’ meetings to be held on April 28 and 29, on the revised conditions for the breakup of certain Fortis assets between Fortis, the Belgian government and France's BNP Paribas. This most recent ruling overturns the court's own prior decision just over a week ago, that only those shareholders who held Fortis shares before the October 14 partial breakup of Fortis can vote, which prompted Fortis to delay the previously scheduled April 8th and 9th Shareholders' meeting and further consider an appeal.

The recent Court of Appeal decision provides the opportunity for the many investors who picked up Fortis shares at depressed prices following the partial breakup a say on the deal, thereby making approval of the deal more likely, despite historical and likely continued resistance from Fortis' largest minority shareholder Ping An Insurance (Group) Co. Sources have reported that Fortis argued to the court that there would be "no danger of majority abuse at the April 28 meeting."